Roger Enrico¿s career at PepsiCo Inc. ran for 30 years, culminating in this role as chairman and CEO from 1996 to 2001, and then vice chairman until his retirement in March 2002. He recently was named executive chairman, DreamWorks Animation SKG, which became a public company in October 2004.
During his tenure as chairman and CEO, Enrico led PepsiCo through a major restructuring, refocusing the corporation on convenient snacks and beverages. Under his leadership, PepsiCo spun-off its restaurant business as an independent public company, launched an initial public offering of The Pepsi Bottling Group, and acquired Tropicana Products and The Quaker Oats Company. His commitment to business growth allowed him to expand the company amid times of changing consumer demographics and a shifting economy.
Enrico was a key strategist during what came to be known as "the Cola Wars." The battleground was advertising, in all forms and varieties, where Enrico saw opportunities and possibilities that others did not. He knew that the very nature of the soft drink business obliged its marketers to reinvigorate the business year after year. He strongly believed in taking risks in order to capture the buying public¿s imagination and that in addition to having a good product you had to entertain people. He showcased PepsiCo brands by building memorable advertising around America¿s leading entertainment figures at the peak of their careers. As a result, he greatly influenced advertising by positioning popular music as an integral part of many high-profile marketing campaigns. In today¿s market this type of "brandertainment" is standard fare, yet it was groundbreaking when Enrico initiated it.
Enrico joined PepsiCo in 1971, and his journey to CEO reads like a to-do list of how to rise to the top. He became president and CEO of Pepsi-Cola in 1983, chairman and CEO of PepsiCo Worldwide Beverages in 1987, chairman and CEO of Frito-Lay in 1991 and chairman and CEO of PepsiCo Worldwide Foods in 1993. He held the position of chairman and CEO of PepsiCo Worldwide Restaurants from 1994 until the spin-off of PepsiCo's restaurant businesses in 1997.
Enrico¿s commitment to education is legendary. In 1998 when he became chairman and CEO of PepsiCo, Enrico worked for a salary of $1 per year, with the proviso that PepsiCo donate the $1 million he otherwise would have made to a scholarship fund for the children of frontline Pepsi employees. The PepsiCo foundation already was offering scholarships, but Enrico insisted on enlarging the fund and did so with his own money. The son of an ironworker who himself went to college on scholarship, he recognized the incredible impact such assistance made on the educational opportunities of his employees¿ families.
His committeement to education and sense of duty lead to his teaching an internal program for top-level executives entitled "Executive Leadership: Building the Business." It was referred to as the "Master Class" by Fortune magazine and was considered one of the world¿s best examples of senior leadership development. This celebrated class led to Enrico¿s teaching engagements at some of the top business schools in the country, including Yale¿s School of Management and Southern Methodist University¿s Cox Business School.
Currently Enrico serves on the board of directors of Target Corporation, Belo Corp., EDS and DreamWorks Animation, SKG. He is a member of the Babson College Corporation, the board of trustees of the National Geographic Society and the Eisenhower Exchange Fellowships, the executive board of the Dallas Symphony Association and the boards of the Dallas Opera and the Dallas Center for the Performing Arts. Enrico grew up in Minnesota and is a graduate of Babson College with a bachelor's degree in finance.